How are energy investors positioned?
In a recent transaction, Mike Spanos, CEO of Bloomin’ Brands, Inc. (NASDAQ:BLMN), acquired 118,000 shares of the company’s common stock. The shares were purchased at an average price of $8.63, amounting to a total investment of approximately $1.02 million. The transaction took place on March 5, 2025, and was detailed in a Form 4 filing with the Securities and Exchange Commission. Following this purchase, Spanos holds 118,000 shares directly. The shares were acquired at prices ranging from $8.48 to $8.79, reflecting a weighted average price. InvestingPro analysis indicates the stock is in oversold territory, with 14 additional real-time insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, Bloomin’ Brands Inc. reported its fourth-quarter 2024 financial results, revealing a revenue shortfall that missed market expectations. The company recorded revenues of $972 million, significantly below the anticipated $1.09 billion, marking an 8% decline from the previous year. Despite this, earnings per share (EPS) met expectations at $0.38. The company also noted a decrease in U.S. comparable restaurant sales by 1.10%, driven by a 5.10% drop in traffic. Additionally, Bloomin’ Brands plans to open 18 to 20 new restaurants in the U.S. in 2025, with capital expenditures projected between $190 million and $210 million.
The company has shifted focus from new developments to remodeling existing restaurants, aiming to enhance guest experiences. In a strategic move, Bloomin’ Brands refranchised its Brazil operations, retaining a 33% ownership, which allows the company to concentrate on its domestic business. CEO Mike Spanos acknowledged the company’s underperformance and expressed confidence in turning the business around, emphasizing the need to change the trajectory of the business. Looking ahead, the company anticipates U.S. comparable restaurant sales to range from a 2% decrease to flat, with adjusted diluted EPS expected to be between $1.20 and $1.40.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.